Russian funds not hidden in Latvian banks

2014-04-03

From wire report

RIGA - After an in-depth analysis of information provided by banks on the freezing of funds of former Ukrainian and Russian officials as instructed by sanctions imposed by the European Union, the Financial Capital and Market Commission has concluded that the total amount of money that will be frozen in Latvian banks reaches several hundred thousand euros.The EU sanction lists contain a total of 51 officials. Only one of them is a customer of Latvian banks, as FCMC told LETA.According to FCMC, EU financial sanctions have not impacted Latvian banking sectors’ financial result...

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